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TIAA-CREF Launches Short-Term Bond Index Fund
New York, August 11, 2015 — TIAA-CREF, a leading financial services organization, today announced the launch of the TIAA-CREF Short-Term Bond Index Fund, a passively managed, short-duration fixed income mutual fund. The fund will use the Barclays U.S. 1-3 Year Government/Credit Index as its benchmark and is designed to be used as a strategic or tactical portfolio allocation.
The TIAA-CREF Short-Term Bond Index Fund will seek to maintain optimal weightings with respect to securities in the index, with exposure across a broad range of sectors, while also employing rigorous quantitative techniques to minimize and manage risk versus its benchmark.
The fund will be co-managed by Kevin Chen, a director and portfolio manager at TIAA-CREF and James Tsang, director of quantitative strategies at TIAA-CREF. Mr. Chen and Mr. Tsang have 18 and 15 years of investment experience respectively. The new strategy will also benefit from the support of TIAA-CREF's fixed income trading team, which includes 11 traders averaging 15 years of experience, as well as the broader TIAA-CREF fixed income portfolio management team, which includes 16 portfolio managers averaging 24 years of experience.
“With interest rates projected to rise in the near future, short-term bonds represent an effective option for managing interest rate risk," said Mr. Chen. “We are pleased to make this new investment option available to investors as a tool for managing the fixed income portion of their portfolios."
The TIAA-CREF Short-Term Bond Index Fund is the latest addition to TIAA-CREF's award-winning mutual fund family, which was designated Best Overall Large Fund Company by Lipper for three years in a row.
TIAA-CREF Short-Term Bond Index Fund's retail class shares (TRSHX) are available for purchase through certain financial intermediaries or by contacting the fund directly at 800-223-1200 or www.tiaa.org. Retirement (TESHX) and premier (TPSHX) class shares are generally available for purchase through employee benefit plans or other types of savings plans or accounts such as TIAA-CREF IRAs. Institutional class shares (TNSHX) are available for purchase directly from TIAA-CREF by certain eligible investors or through financial intermediaries.
TIAA-CREF (www.tiaa.org) is a national financial services organization with $869 billion in assets under management (as of June 30, 2015) and is the leading provider of retirement services in the academic, research and cultural fields.
About TIAA-CREF Asset Management
TIAA-CREF Asset Management (www.tiaa-cref.org/public/assetmanagement) is part of the TIAA-CREF group of companies and provides investment advice and portfolio management services to individual investors, intermediaries and institutional clients through its subsidiaries. Its strategies cover a wide array of global asset classes, including equities, fixed income, real estate and alternative investments.
Press ContactMary Ellen Higgins